The bank for a changing world

Assistant Vice President - Senior Control Analyst – Local Regulatory Reporting Specialist

Contract

Standard / Permanent

Location

US-NJ-Jersey City

Job function

FINANCE ACCOUNTS ET MANAGEMENT CONTROL

Reference

FIN000801

Business Overview:
The Intermediate Holding Company (“IHC”) program structured at the U.S. level across poles of activities of BNP Paribas provides guidance, supports the analysis, impact assessment and drives adjustments of the U.S. platform’s operating model due to the drastic changes introduced by the Enhanced Prudential Standards (“EPS”) for Foreign Banking Organizations (“FBOs”) finalized by the Federal Reserve in February 2014, implementing Section 165 of U.S. Dodd-Frank Act.
 
The Accounting Control Department is a transversal function within CIB Finance whose primary roles are:
  • To develop and implement a strong accounting control framework for CIB Banking and non-Banking entities (such as Broker/Dealers entities),
  • To perform 2nd level of controls for controls primary run by other Finance and non-Finance teams, and
  • To report on main controls areas, for both local and central needs and requirements.

The Department is responsible for ensuring compliance with Group and CIB Head Office controls guidelines and expanding to adapt with an ever-changing Control environment. In this perspective, the Group is taking additional responsibilities to look after control for local regulatory reporting (FED/FINRA/SEC) under US GAAP.

 

The Group works closely with not only Finance and Tax department but with other functions of CIB NA to provide value added analysis and advisory services to its clients in the areas of accounting control.

 
Position Overview
The Senior Control Analyst is primarily responsible for developing the regulatory Control Framework to secure 2nd level control for local regulatory reporting to FED, FINRA and SEC for banking and broker dealers’ entities. The primary set of 2nd level of control to be implemented will target the capital adequacy and liquidity compliance and relevant regulatory reporting under Basel III framework. Following, with new regulatory requirements, additional responsibilities will come from the issuance of new controls procedures to implement and ongoing monitoring of the reporting controls.  
 
The Senior Control Analyst will perform 2nd level review and will test 1st level controls. He/She will contribute to implement control governance for the regulatory reporting, liaising with the Finance production, the local regulatory reporting team and the CFOs responsible of these entities. The controls he/she will perform will be the basis for the production of standardized controls dashboards/ summary reporting for key risks indicators to be communicated to North America Finance Managements and other internal governance bodies.
 
Responsibilities
End of accounting period
  • Before each closing period, review the control working program and circulate planning and specification for the regulatory control aspects of the closing process to all the stakeholders
  • For each closing period review and test the effectiveness of the controls performed by various CIB NA functions  according to the control working program
  • Identify and escalate control gaps
  • Contribute to review and challenge the  draft of local reporting, especially the manual adjustments before their submission to the regulators
  • Interact with external consultant as needed to advise about changes of local regulatory reporting requirements
Permanent (on a daily basis):
  • Develop and maintain the local regulatory control framework by assisting the local regulatory team to identify and document risks and controls in place or to be implemented by CIB North America  functions (i.e. Middle Office, Back Office, Accounting)
  • Evaluate the compliance of CIB NA accounting control environment with local regulatory requirements
  • Identification of control weaknesses/control gaps and suggestion/implementation of solutions
  • Formalize and report the results of the control test to the control governance for local regulatory reporting
  • Act as primary contact for  2nd level control for the regulatory governance
  • Update knowledge of latest regulatory reporting requirements/developments
  • Develop an “control oriented’ culture for regulatory reporting  across the organization (Finance and non-Finance)

  • Accounting degree (with concentrations in financial/regulatory audit)
    • CPA or equivalent required
  • Minimum 5 years of experience in the regulatory audit of banking and capital markets or equivalent experience in consulting of FED/FINRA reporting process
  • Good understanding and experience of FR Y-9C/LP, FFIEC 002, and legal entity standalone reporting is a plus
  • Good understanding or knowledge of SOX/FDICIA requirements and familiarity with COSO framework
  • Solid understanding of financial instruments and developed skills in analysis of business supporting processes from accounting control perspective
  • Strong organizational skills,  rigorous, and self-disciplined
  • Attention to detail and commitment to maintaining a strong control environment
  • Good communication skills, (i.e. writing, listening, presentation)
  • Advanced technical skills (i.e. MS Word, Excel, PowerPoint, Access)

FINRA Registration:

  • Not Applicable

BNPPRSR